Infrastructure development projects receive a boost as NaBFID enters into a partnership agreement with the New Development Bank

In a significant move to foster a sustainable infrastructure financing market, the National Bank for Finance and Infrastructure Development (NaBFID) and the New Development Bank (NDB) have signed a Memorandum of Understanding (MoU). This collaboration, which does not specify a geographical location for the projects, opens up opportunities for global participation.

The MoU outlines a series of initiatives aimed at bridging the infrastructure financing gap, enhancing capabilities in the infrastructure financing market, and promoting clean energy and transportation projects. The focus on these sectors is crucial in driving sustainable development and combating climate change.

Under the agreement, both institutions will engage in research activities, exchange technical expertise, and undertake capacity-building initiatives. The goal of these activities is to promote knowledge sharing and foster innovation in the infrastructure financing space.

The capacity-building initiatives are designed to enhance the skills and capabilities of professionals in the infrastructure financing market. By doing so, the collaboration aims to create a more robust and resilient market that can effectively address the challenges posed by infrastructure financing.

The joint participation in projects is a key aspect of the MoU. By working together, NaBFID and NDB aim to pool their resources and expertise to deliver impactful projects that contribute to sustainable development.

Dr. Ajay Kumar, Managing Director of NaBFID, and Pranav R. Bhandari, CEO of NDB, led the signing of the MoU. In a joint statement, they expressed their enthusiasm for the collaboration, stating that it represents a significant step towards creating a more sustainable and resilient infrastructure financing market.

In conclusion, the collaboration between NaBFID and NDB is a positive development for the infrastructure financing sector. By focusing on clean energy and transportation projects, exchanging technical expertise, and undertaking capacity-building initiatives, the institutions aim to create a more sustainable and resilient infrastructure financing market that can effectively address the challenges posed by climate change.

Infrastructure development projects receive a boost as NaBFID enters into a partnership agreement with the New Development Bank